Source link The move could undermine the European financial system, chief executive Lieve Mostrey has claimed A plan by the G7 to use Russia’s frozen assets as a backstop to issue loans for the reconstruction of Ukraine would pose risks to the financial stability of Europe, Lieve Mostrey, CEO of the Brussels-based clearinghouse Euroclear, has […]
Source link Major EU clearinghouse Euroclear has revealed that it accrued almost $5 billion in profit from frozen Russian assets last year. In its financial results for 2023 published on Thursday, the Belgium-based company reported that net interest earnings amounted to €5.5 billion ($5.9 billion), of which €4.4 billion “relate to interests linked to Russian […]